[Federal Register Volume 70, Number 66 (Thursday, April 7, 2005)]
[Notices]
[Pages 17729-17730]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E5-1601]



[[Page 17729]]

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SECURITIES AND EXCHANGE COMMISSION

[Release No. 35-27955]


Filings Under the Public Utility Holding Company Act of 1935, as 
Amended (``Act'')

April 1, 2005.
    Notice is hereby given that the following filing(s) has/have been 
made with the Commission pursuant to provisions of the Act and rules 
promulgated under the Act. All interested persons are referred to the 
application(s) and/or declaration(s) for complete statements of the 
proposed transaction(s) summarized below. The application(s) and/or 
declaration(s) and any amendment(s) is/are available for public 
inspection through the Commission's Branch of Public Reference.
    Interested persons wishing to comment or request a hearing on the 
application(s) and/or declaration(s) should submit their views in 
writing by April 26, 2005, to the Secretary, Securities and Exchange 
Commission, Washington, DC 20549-0609, and serve a copy on the relevant 
applicant(s) and/or declarant(s) at the address(es) specified below. 
Proof of service (by affidavit or, in the case of an attorney at law, 
by certificate) should be filed with the request. Any request for 
hearing should identify specifically the issues of facts or law that 
are disputed. A person who so requests will be notified of any hearing, 
if ordered, and will receive a copy of any notice or order issued in 
the matter. After April 26, 2005, the application(s) and/or 
declaration(s), as filed or as amended, may be granted and/or permitted 
to become effective.

Cinergy Corp.

[70-10287]

    Cinergy Corp., (``Cinergy''), 139 East Fourth Street, Cincinnati, 
Ohio 45202, a registered holding company has filed an application-
declaration (``Application'') under sections 6(a), 7, 9(a), 10 and 
11(b)(1) of the Act and rule 54 under the Act.
    By order dated October 23, 2002 in File No. 70-10015, HCAR No. 
27581 (``2002 Order''), the Commission authorized Cinergy to invest up 
to $500 million through March 31, 2005 in new or existing non-utility 
companies (``IS Subsidiaries'') that derive or would derive 
substantially all of their operating revenues from the sale of 
Infrastructure Services (as hereinafter defined) both within and 
outside the United States, while reserving jurisdiction over 
investments by Cinergy in IS Subsidiaries that would provide 
Infrastructure Services outside the United States.
    As defined in the 2002 Order, and for purposes of the Application, 
``Infrastructure Services'' include design, construction (as defined in 
rule 80(c) under the Act), retrofit and maintenance of utility 
transmission and distribution systems; substation construction; 
installation and maintenance of natural gas pipelines and laterals, 
water and sewer pipelines, and underground and overhead 
telecommunications networks; and installation and servicing of meter 
reading devices and related communications networks, including fiber 
optic cable; provided, however, that Infrastructure Services would 
under no circumstances include the acquisition or ownership of 
``utility assets'' within the meaning of section 2(a)(18) of the Act.
    Cinergy now requests authority to invest, directly or indirectly 
through one or more subsidiaries, up to $100 million (including 
existing investments, the ``Investment Cap'') from time to time through 
December 31, 2008 (``Authorization Period''), in new or IS Subsidiaries 
that derive or would derive substantially all of their operating 
revenues from the sale of Infrastructure Services both within and 
outside the United States. The Investment Cap would include Cinergy's 
existing investments in IS Subsidiaries on the date of any order issued 
by the Commission's in regard to the Application.\1\ Cinergy requests 
that the Commission reserve jurisdiction, pending completion of the 
record, over Cinergy's proposal to invest in any IS Subsidiary that 
derives or will derive a substantial portion of its operating revenues 
from the sale of Infrastructure Services outside the United States. 
Cinergy states that the requested authority is necessary to enable 
Cinergy to continue to operate and develop the Infrastructure Services 
businesses previously authorized by the Commission in the 2002 Order.
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    \1\ Cinergy states that at December 31, 2004 it had invested 
approximately $30 million in IS Subsidiaries.
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    Currently, Cinergy has four IS Subsidiaries: (i) Cinergy Supply 
Network, Inc., a Delaware corporation (``CSN''), which does not engage 
in an active business but is solely a holding company for Cinergy's 
other IS Subsidiaries:\2\ (ii) Reliant Services, LLC (``Reliant''), an 
Indiana limited liability company owned jointly and equally by CSN and 
a subsidiary of Vectren Corporation. Reliant provides line locating and 
meter reading services to utilities and through its wholly-owned 
indirect subsidiary, Miller Pipeline Corporation, installs, repairs and 
maintains underground pipelines used in natural gas, water and sewer 
systems. Reliant operates throughout the United States with its 
customer base primarily concentrated in the Midwest. (iii) MP 
Acquisition Corp., an Indiana corporation (``MP''), is a direct wholly-
owned subsidiary of Reliant that engages in no active business but 
rather is solely a holding company for Miller Pipeline Corporation; 
(iv) Miller Pipeline Corporation, an Indiana corporation (``Miller 
Pipeline'') and a direct wholly-owned subsidiary of MP that installs, 
repairs and maintains underground pipelines used in natural gas, water 
and sewer systems. Miller Pipeline operates throughout the United 
States with its customer base primarily concentrated in the Midwest.
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    \2\ CSN has one subsidiary, Fiber Link, LLC, an Indiana limited 
liability company, that is not an IS Subsidiary but rather is an ETC 
as certified by the Federal Communication Commission. Fiber Link 
holds conduit inventory for sale to the telecommunications industry.
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    Investments in any IS Subsidiary may take the form of an 
acquisition, directly or indirectly, of the stock or other equity 
securities of a new subsidiary or of an existing company and any 
subsequent purchases of additional equity securities and any loans or 
cash capital contributions to any such company. In addition, any 
guarantee provided by Cinergy in respect of any payment or performance 
obligation of any IS Subsidiary would be counted against the Investment 
Cap. Cinergy will fund investments in IS Subsidiaries using available 
cash or the proceeds of financings, as authorized in HCAR No. 27190 
(June 23, 2000) or any supplemental or superseding financing order 
issued to Cinergy during the Authorization Period.
    Cinergy states that it will not seek recovery through higher rates 
to its utility subsidiaries' customers for any losses Cinergy may 
sustain, or any inadequate returns it may realize, in respect of its 
investments in IS Subsidiaries, and that any Infrastructure Services 
performed by any IS Subsidiaries, directly or indirectly, for any 
associate or affiliate utility companies (as those terms are defined in 
the Act) would be conducted at cost and otherwise in accordance with 
the service agreements approved by the Commission in HCAR No. 27016, 
(May 4, 1999).

[[Page 17730]]

Cleco Corp.

[70-10268]

    Cleco Corporation (``Cleco Corp.''), 2030 Donahue Ferry Road, 
Pineville, LA, a Louisiana corporation and a holding company exempt 
under section 3(a)(1) of the Act, has filed an application under 
sections 9(a)(2) and 10 to retain its ownership interest in Perryville 
Energy Partners, LLC (``Perryville''), upon Perryville's loss of status 
as an exempt wholesale generator (``EWG'') under the Act.
    Cleco Corp. is the parent company of Cleco Power LLC (``Cleco 
Power''), a Louisiana limited liability public-utility company that 
provides electric utility service in central and southeastern 
Louisiana. Cleco Corp. also is the indirect owner, through its 
subsidiary companies Cleco Midstream Resources LLC and Perryville 
Energy Holdings LLC of Perryville, which owns a 718-megawatt generating 
facility as well as interconnection facilities used to connect the 
facility to the transmission system of Entergy Louisiana (``Entergy 
LA''). Perryville has entered into an agreement to sell the generating 
facility to Entergy LA (although it will retain ownership of the 
interconnection facilities). Following the sale, Perryville will no 
longer own generating facilities, will cease to qualify as an EWG, and 
will become a public-utility company, as defined in section 2(a)(5) of 
the Act.

    For the Commission by the Division of Investment Management, 
pursuant to delegated authority.
Margaret H. McFarland,
Deputy Secretary.
[FR Doc. E5-1601 Filed 4-6-05; 8:45 am]
BILLING CODE 8010-01-P